if you have 10 symphony shares, these will be exchanged with 1 Ranhil shares. Then for every 1 this ranhil share, you will be offered another 1 ranhill shares at rm1.60 ( you have to pay). Ranhill shares also will be offered to public and institutions at also rm1.60. At rm1.60 PE is about 10.......it is cheap for a utility stock......
sudah kena......I think no reason for ranhil to revise ipo price downwards from 1.60 to 1.50 . First from beginning ranhil projected proceeds of rm 600m out of this ipo at 1.60. If revise to 1.50 means less proceeds. Second 1.60, the offer is at PE of about 16...which is very cheap already. Another utility peers malakof offer IPO at rm 1.80..at much higher PE of 26.......But I also puzzled with the selling pressure. I believe majority of symphony share holders do not know that IPO will be at 1.60....they are in the dark...so they just sell.....my average is at 16.5.....dividend 1 sen will be paid on 21 dec. After minus dividend my cost is 15.5.....still below IPO.....another 2 days may be will test low of 14.5 sen.......good luck......
furthermore.......if you open explanatory statement to shareholders page (i) , you look at item "consideration shares".....Ranhill shares to be issued as consideration to aquire RGSB and RUSB is at issue price of 1.60 .So all the way the valuation for ranhill is 1.60........no way they can suddenly changed to 1.50........it needs another EGM to change I guess.........
I think should delay celebration to january.........If listing at 1.70...only small celebration.....but if listing at 1.80.....big.. big celebration......
thanks god and I am very very happy. I am an IPO kaki....for the first time ever I have a chance to own IPO shares below it's IPO price....a rare ocurrence.......
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ruslimz
1,609 posts
Posted by ruslimz > 2015-11-24 14:30 | Report Abuse
atau sudah kiok.....